Browsing: he Tennessee Valley Authority Retirement System and Franz Haniel & Cie

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A San Francisco-based clean-tech investment company has raised a total of $250 million which is set to go to sustainable startups, among them two from Africa.

According to a report by Bloomberg, the venture capital firm Ecosystem Integrity Fund (EIF) closed its fourth fund with backing from the Tennessee Valley Authority Retirement System and Franz Haniel & Cie, a family-owned holding company in Germany.

This was revealed in a statement that was issued on Tuesday July 13, 2021.

The report indicates that the funding will go to about 20 early-stage green technology startups in industries ranging from hydrogen-powered aircraft to electric motorbikes and subscription scooters.

The African startups set to benefit include Rwanda’s Ampersand, Africa’s first electric motorbike producer, and Ghana’s Energicity, a builder of solar microgrids serving rural areas that aren’t electrified.


Ampersand builds affordable electric vehicles and charging systems for the five million motorcycle taxi drivers in …